Simplex in talks with AMC for multi-level car park

Kolkata-based Simplex Projects Ltd has received offers, including one from the Ahmedabad Municipal Corporation (AMC), to set up an automated multi-level car park.

The construction firm, which provides integrated engineering, procurement and construction services, is also into semi and fully-automated multi-level car parking systems through its wholly-owned subsidiary Simpark Infrastructure.

"We have been receiving offers from firms as well as the AMC for setting up multi-level car parking systems in Ahmedabad and other cities of Gujarat. But, presently, we are evaluating these offers and no deal has been finalised yet," said B K Mundhra, Chairman and Managing Director, Simplex Projects Ltd.

The company is into 'specialised infrastructure' comprising of piling and foundations, civil construction projects, commercial and residential complexes, townships, roads and bridges, as well as water supply and sewage.

Simplex Projects has to its credit the country's first multi-level car parking system, Parkomat, at New Market in Kolkata.

Having specialised in an automated multi-level car park, the company has begun work on setting up a semi-automated multi-level car parking system in Mumbai.

According to Mundhra, Simplex Projects has am order book of Rs 299 crore, of which nearly Rs 50 crore is for piling and foundation, for which it has a first refusal rights in the eastern region.

"We usually acquire the design and technology for car parking systems from Netherlands, Italy, Switzerland and now Korea, and are usually assigned projects on a built-own-operate-transfer basis," added Mundhra.

Simplex Projects is entering the capital market with a public issue of 3 million equity shares of Rs 10 each in a price band of Rs 170 and Rs 185 per equity share.

The company plans to deploy the proceeds of the issue on acquiring plant and machinery, and design and technology for semi and fully-automated multi-level car parking as well as for its piling and foundations business. The issue opens on July 10 and closes July 13.